Stock Market Analysis – 09-30-2008
September 30, 2008 at 8:35 pm · Filed Under Broader Market
Don’t consider today as anything more than a dead cat bounce. It looks like a new "rescue" bill will go out tomorrow, this time tacking on some tax cuts and raising the FDIC insurance level from $100k to $250k. Whether you call it a "bailout" or a "rescue" it’s all the same. It will likely pass this time, but it also looked likely to pass the last time so you never know. This will probably make a temporary surge in the market, but don’t expect that to last. Once we actually start burning through the bailout money it’ll be back downwards.
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